Inv Vk Tr Inv (NYSE:VGM) Share Price Crosses Below 200-Day Moving Average - Should You Sell?

Key Points

• Inv Vk Tr Inv (NYSE:VGM) crossed below its 200-day moving average during trading, indicating a potential bearish trend.
• The company announced a monthly dividend of $0.0646 per share, resulting in an annualized yield of 8.2%.
• Several institutional investors, including Pathstone Holdings LLC and Guggenheim Capital LLC, have significantly increased their holdings in the company recently.

Inv Vk Tr Inv (NYSE:VGM - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.72 and traded as low as $9.50. Inv Vk Tr Inv shares last traded at $9.51, with a volume of 161,730 shares trading hands.

Inv Vk Tr Inv Stock Performance

The stock's fifty day moving average is $9.54 and its two-hundred day moving average is $9.71.

Inv Vk Tr Inv Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be given a dividend of $0.0646 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date is Monday, August 18th.

Institutional Investors Weigh In On Inv Vk Tr Inv

Large investors have recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC purchased a new position in Inv Vk Tr Inv during the second quarter worth about $350,000. Bank of America Corp DE boosted its position in shares of Inv Vk Tr Inv by 28.1% during the 2nd quarter. Bank of America Corp DE now owns 434,009 shares of the investment management company's stock valued at $4,119,000 after acquiring an additional 95,282 shares during the last quarter. StoneX Group Inc. grew its holdings in shares of Inv Vk Tr Inv by 17.0% during the second quarter. StoneX Group Inc. now owns 22,802 shares of the investment management company's stock worth $216,000 after purchasing an additional 3,306 shares in the last quarter. M Holdings Securities Inc. bought a new position in shares of Inv Vk Tr Inv in the second quarter worth approximately $318,000. Finally, First Trust Advisors LP raised its stake in Inv Vk Tr Inv by 19.5% in the second quarter. First Trust Advisors LP now owns 18,292 shares of the investment management company's stock valued at $174,000 after purchasing an additional 2,987 shares in the last quarter. Institutional investors own 38.13% of the company's stock.

About Inv Vk Tr Inv

Invesco Trust for Investment Grade Municipals is a closed-ended fixed income mutual fund launched by Invesco Ltd. The fund is co-managed by Invesco Advisers, Inc, INVESCO Asset Management (Japan) Limited, INVESCO Asset Management Deutschland GmbH, INVESCO Asset Management Limited, Invesco Canada Ltd., Invesco Hong Kong Limited, and INVESCO Senior Secured Management, Inc It invests in the fixed income markets of the United States.